According to data from the Agricultural and Processed Food Products Export Development Authority (APEDA), it has been reported that India’s rice export earnings have declined to around $3.17 billion in the first six months of FY 2015-16 (April – September), which is down about 17% from around $3.8 billion during the same period in FY 2014-15. Further, the earnings have declined despite an increase in export tonnage by about 5% to around 5.53 million tons in the six-month period from around 5.27 million tons last year due to a sharp decline in average export prices, as revealed by the APEDA.
In this context, further, it has been narrated that on average basmati rice export prices declined by about 35% to around $920 per ton during the six-month period from around $1,406 per ton in comparison to last year. While, on the other hand, average non-basmati rice prices declined to around $364 per ton in April-September 2015 period from around $415 per ton as indicated in last year. In addition, as per the reports, it has been indicated that India exported around 2.08 million tons of basmati rice in April-September 2015 period, which is up about 27% from around 1.64 million tons exported during the same period last year.
Further, the sub-continent exported around 3.44 million tons of non-basmati rice in the six-month period, which is down about 5% from around 3.64 million tons as compared to last year. The decline in non-basmati rice exports can be attributed to a stiff competition with Thailand, Vietnam and Pakistan. The data also indicates that the earnings from basmati rice exports have declined to around $1.9 billion in April-September 2015 period from around $2.3 billion during the same period last year. Moreover, earnings from non-basmati rice exports have also declined to around $1.25 billion in April-September 2015 period from around $1.51 billion during the same period last year.